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MATIC - Great R:R Trade! 🔥
MATIC gave us a complex wave 4 and now we're at the extremes of wave 4. We have an invalidation level in place and we're almost at that level.
Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below wave 3 so once we pass that, we'll be looking for reversal patterns to get in on the longs.
Trade Idea:
- On lower timeframe, watch for rejection of the blue structure. This can be done via trendline breaks or BOS etc.
- Enter with stops above the blue structure
- Target the recent lows as first targets. Taper off position as we move lower
Check out TradingElements_ idea for the weekly timeframe
Goodluck and as always, trade safe!
Taking a short entry anywhere near the blue structure will give us a great risk to reward. There's only limited space for it to move up but there's 75% raw gain to be made on the short. We're expecting wave 5 to go below wave 3 so once we pass that, we'll be looking for reversal patterns to get in on the longs.
Trade Idea:
- On lower timeframe, watch for rejection of the blue structure. This can be done via trendline breaks or BOS etc.
- Enter with stops above the blue structure
- Target the recent lows as first targets. Taper off position as we move lower
Check out TradingElements_ idea for the weekly timeframe
Goodluck and as always, trade safe!
Nota
Boom! 35% raw gain!
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Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.